Arbeitspapier
Optimal consumption choice with intolerance for declining standard of living
Duesenberry introduced the notion of a ratchet investor who does not tolerate any decline in her consumption rate. We connect the demand behavior of such an agent to the behavior of standard time-additive agents. A ratchet investor demands the running maximum of the optimal plan a conventional time-additive investor with lower initial wealth would choose.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Papers ; No. 394
- Klassifikation
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Thema
-
Intertemporal consumption choice
Habit formation
Non-time separable utility
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Riedel, Frank
- Ereignis
-
Veröffentlichung
- (wer)
-
Bielefeld University, Institute of Mathematical Economics (IMW)
- (wo)
-
Bielefeld
- (wann)
-
2007
- Handle
- URN
-
urn:nbn:de:hbz:361-13664
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Riedel, Frank
- Bielefeld University, Institute of Mathematical Economics (IMW)
Entstanden
- 2007
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